money laundering

Regulators and prosecutors are backing up their demand for a culture of compliance that starts with the “tone at the top” by bringing BSA/AML enforcement actions against individual bank directors and managers.

Now, after a motion filed by the U.S. Attorney for the Western District under the terms of a Deferred Prosecution Agreement with the bank as part of its recapitalization in 2011, the criminal charges were dropped and the Deferred Prosecution Agreement was terminated.